Petroleum Africa
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Tuesday, August 6, 2013
ConocoPhillips’ stake in three contingous blocks offshore Senegal will be even larger than previously reported as it picks up and additional 25% from Cairn Energy. The US major has just acquired a stake from FAR Ltd. in three blocks; the Rufisque, Sangomar, and Sangomar Deep.
A 2,050 sq km 3D seismic survey has been used to identify prospects on the blocks and an exploration campaign is targeting a block-wide potential of more than 1.5 billion barrels of yet to find resource with a proposed two-well program with drilling expected to commence in H1 2014 with the Cairn contracted Cajun Express rig.
Cairn will retain operatorship and 40% interest in the blocks during the exploration phase. In the event of a commercial success, ConocoPhillips would have the option to operate the future development of the resource.
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